During the announcement Thursday, it was revealed that the ride will be known as Skyscraper and will sit inside a $200 million entertainment complex called the SkyPlex on International Drive and Sand Lake Road.

Joshua Wallack, under the name WF IDrive Realty, bought up 12 acres of land, including the land where the I-Drive Burger King now sits, and behind it, the former "Fun & Wheels" attraction.

"It’s a full-throttle roller coaster. The track is being designed by the top roller coaster designer in the entire world, and our design is amazing. It’s going to be one of the most thrilling rides in the history of the world," he said.

The ride will last three minutes and reach a maximum speed of 65 mph. Guests will have to be 48 inches tall to ride.

It will accommodate 1,000 riders per hour.

"You’ll follow the red track on the tower all the way to up to 500 feet in the air. You’ll be right underneath the observation platform when you make your first inverted G-roll and start heading down at approximately 65 mph," Wallack said.

The Skyscraper, which will be 570 feet tall, will have a 55-story glass elevator that will take guests to an observation deck.

It would also be roughly 150 feet taller than the Orlando Eye observation wheel, now under construction along I-Drive just south of Sand Lake Road.

Officials also said there will be retail on property that will be different than what can be found in a traditional mall. A restaurant will also be located on the top of the Skyscraper.

The new attraction is expected to break ground next year and open for guests in 2016.

To connect SkyPlex with Mango's and a planned parking garage on the other side of the busy intersection, the Wallacks are pushing the county to build a pedestrian bridge.